The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
US CPI m/m
|CPI is an indicator of consumer inflation. If it exceeds the forecast, the USD will rise. The Federal Reserve is anticipated to raise the interest rate at least 3 times this year. The higher the CPI is, the greater the chance of 4 rate hikes will be. Check the economic calendar at 15:30 MT time on April 11 to find out if the CPI encourages Fed’s rate hikes and the stronger US dollar.|
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.